Bitcoin Pulls Back To $71,000 As Profit-Takers Strike Again
Bitcoin has retraced back to the $71,000 level, as on-chain data shows profit-taking behavior among investors has once again witnessed a spike.
Last week's purchases were completely funded by sales of Stretch, the companies perpetual preferred stock.
Bitcoin's potential to reach $21 million per coin could revolutionize global financial systems and investment strategies.
April 13, 2026, 11:36 amCrypto funds brought in $1.1 billion last week, their strongest inflow since January, as inflation and geopolitical tensions eased.
April 13, 2026, 11:09 amBitcoin has retraced back to the $71,000 level, as on-chain data shows profit-taking behavior among investors has once again witnessed a spike.
Crypto's 24/7 global trading across hundreds of venues makes it difficult for any single country to halt the market.
On the failure of the US/Iran peace talks over the weekend and the consequent rise in tensions, Bitcoin has been rejected from the $74K horizontal level and the bear market trendline.
Bitcoin price fell during Asian trading hours after a weekend diplomatic push between Washington and Tehran broke down and a new US maritime order raised fresh concern over energy flows from the Middle East. This pulled the top crypto lower alongside equities, reinforcing the market’s sensitivity to oil, inflation, and broader risk sentiment.
Mining costs in parts of the US have climbed past $100,000 for a single bitcoin, pushing operators to pack up and move. Paraguay and Ethiopia have emerged as top destinations, both offering surplus hydroelectric power that keeps electricity bills low.
Bitcoin preserved $70,000 at the weekly close as markets began reacting to a breakdown in US-Iran negotiations and blockade of the Strait of Hormuz.
Bitcoin has once again seen heavy profit-taking above $70,000, according to Glassnode.
Rising oil prices, heavy long positioning, and a macro-driven risk environment place Bitcoin at a fragile inflection point.
Over the last week, the Bitcoin bulls looked to have taken control of the price, eventually pushing it back above $73,000 again. There has been a slowdown since then, with bears trying to retest the $70,000 level over the weekend. For now, the bulls are still open, but there is still the possibility that the price will crash again.